Mining technology and mineral processing techniques worldwide have undergone sea changes in the recent years. More and more sophisticated methods both in mining operations and adoption of advanced equipment/ machineries in this sector have brought in revolution in the mining community all over the world.
The Mineral Industry in India has made phenomenal progress during the last 50 years. With the inception of Mineral Policy in 1993 and the consequent amendments, there is tremendous scope for participation of private and foreign companies in various joint venture mineral projects in India. The country is now poised to attract massive foreign investments in the mining sector. In the present scenario of advances in technology, both in mining operations and machineries equipment there must be a proper platform for the transfer of technology, exchange of views on the latest developments in mining technology, interacting on issues like safety & environmental measures, information sharing on mining policies & procedures, investment opportunities, private sector participation and joint venture projects.
There must be a unique forum for the representatives from mining companies, equipment manufacturers, consultants, concerned Government Departments, mining associations, institutions, environmental experts, etc to assemble on a single platform, to interact with each other and discuss possible business opportunities.
OPPORTUNITIES IN INDIAN MINERAL SECTOR
• The value of mineral production in 2004-05 was US $ 15085 million, which constitutes around 2.7% of the Gross Domestic Production (GDP).
• The Index of mineral production for 2004-05 is 155.1 as compared to 146.9 for 2003-04 showing a growth if 5.6%.
• Foreign investment of US$ 940 mn in Indian Mineral sector is approved which comprises of 73 projects.
• 2326 private and 292 public sector operating mines in the country
• Employment potential for over 1.1 mn people.
• The export turnover from minerals and metals constitutes around 23 % of the total value of all merchandise exported from the country during 2003-04.
• World’s largest producer of Mica, 2nd largest producer of chromite, graphite and barytes, 3rd in production of coal & lignite, 4th in iron ore, 6th in bauxite and 8th in manganese ore, 10th in aluminium and 11th in crude steel in the World.
• Government of India had liberalized the Foreign Direct Investment (FDI) Policy in February 2000. Presently Government allows foreign equity holdings up to 100% on the automatic route for both exploration and mining except diamonds and precious stones.
• The export turnover from minerals and metals constitutes around 23 % of the total value of all merchandise exported from the country during 2003-04.
• World’s largest producer of Mica, 2nd largest producer of chromite, graphite and barytes, 3rd in production of coal & lignite, 4th in iron ore, 6th in bauxite and 8th in manganese ore, 10th in aluminium and 11th in crude steel in the World.
• Government of India had liberalized the Foreign Direct Investment (FDI) Policy in February 2000. Presently Government allows foreign equity holdings up to 100% on the automatic route for both exploration and mining except diamonds and precious stones.
Many forums and societies such as SME (Society for Mining, Metallurgy and Exploration), MEAI (Mining Engineers Association of India), Indian Mining Summit, etc work effeciently to take this Mining industry to Sky limits and make it the most valuable industry among others.
One fact: Mining industry is the only industry whose contribution towards GDP rised 200% (from 2.5 to 8.53) when compared with manufacturing and service industries. Hats off to Mining industry and to the dirty hands which made this industry proud.
Source: www.globalminingsummit-india.com/ pdf/india_mining_summit2006.pdf
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